EZZ Life Science Holdings (ASX:EZZ) announced financial results for the quarter ended

Receipts from customers significantly increased by $1.4m from last quarter and by $2.5m on the prior year corresponding period.

As expected, this quarter, operating cash flows turned negative due to increased advertising expenses and manufacturing expenditures in preparation of major shopping events both domestically and in China, which will take place during the upcoming quarter.

Cash position remained robust with a balance of $9.2m at 30 September 2022.

The Company commenced trading on Douyin (mainland China?s version of TikTok) in June 2022 and generated $1.8m of revenue in the first quarter which contributed 38% of the total revenue.

James Hudson, the previous Director of Corporate Affairs and Marketing for Alibaba Group in Australia and New Zealand, was engaged by EZZ on a part-time basis as Director of Corporate Affairs.

During September, EZZ successfully exhibited its products at China's largest pharmaceutical trade show, PharmChina.

Four new EZZ products were released to the market and the formula has been upgraded for one of the existing core products during the quarter.

EZZ partnered with national pharmacy retailer Priceline to run a number of in-store offline activations with Instagram and TikTok influencers to promote EZZ?s hair care range.

Following the announcement the company?s share price fell 1.538%.